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Computer program helps with debt reduction plan

April is Financial Literacy Month. Deborah Womack of the Forsyth County Cooperative Extension Service joins Veronica White during Tuesday's noon newscast for more information.

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Updated: 1:09 PM EDT Mar 31, 2015

Computer program helps with debt reduction plan

April is Financial Literacy Month. Deborah Womack of the Forsyth County Cooperative Extension Service joins Veronica White during Tuesday's noon newscast for more information.

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Updated: 1:09 PM EDT Mar 31, 2015

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WEBVTT DISTRICT ATTORNEY SAYS IFDEBORAH WOMACK AND HEAR FROM THEFORSYTH COOPERATIVEEXTENSION.TELL US ABOUT POWER PLAY.DEBORAH WOMACK: IT IS A COMPUTERPROGRAM THAT PROVIDES A DEBTREDUCTION PLAN.IF A PERSON WANTS TO PAY OFFTHEIR DEBT MONTHLY, THEY CAN USETHE PROGRAM TO PAY IT DOWN.ANOTHER PERSON, SOME PEOPLE WILLGET STARTED, YOU HAVE TO MAKE ALIST OF WHO YOU OH, THE BALANCEOWED, HOW MUCH YOU PAY EACHMONTH, AND THE INTEREST RATE.A LOT OF PEOPLE DO NOT REALIZETHAT THERE IS A HIGH INTERESTRATE COME A LOW INTEREST RATE,BUT THE KEY THING IS MAKING SURETHAT YOU KNOW WHAT IS THEINTEREST RATES ARE YOU CAN PAYIT DOWN SO YOU ARE ABLE TO SAVESOME MONEY.POWER PAY IS SET TO SHOW THEFASTEST WAY TO PAY OFF DEBT BY,AND NO ONE LIKES TO BEEN A LOTOF DEBT.IT IS SHOWING WHO TO PAY EACHMONTH UNTIL DEBTS ARE PAID,MAKING POWER PAYMENTS USINGMONEY FROM PAID OFF DEBTS.YOU WANT TO CUT DOWN THE AMOUNTOF INTEREST YOU PAY BACK ADDINGA LITTLE EXTRA TO WHAT YOUUSUALLY PAY.AND THEN PAYING A LUNCH SOME.IF HE WILL GET A TAX RETURN ORBONUSES, THEY CAN USE THAT TOPOWER PAY.ALSO YOU ARE LOOKING ATCONSOLIDATION OR WHATEVER.VERONICA: OK, GREAT, SO MAYBE ALOT OF THINGS PEOPLE MIGHT BEOVERLOOKING.DEBORAH WOMACK: THAT IS RIGHT,AND THE GREAT THING ABOUT POWERPAY -- IT IS FREE.SOME BILL WAS SAY I DO NOT HAVEA COMPUTER ACCESS TO IT, SO I DOHAVE BROCHURES, AND PEOPLE CANCALL TO THE OFFICE AND GET, ORIF THEY DO HAVE COMPUTERS, THENTHEY CAN GO ONLINE AND THIS ISTHE SITE RIGHT THERE.GO.NCSU.EDU/POWERPAY.

Computer program helps with debt reduction plan

April is Financial Literacy Month. Deborah Womack of the Forsyth County Cooperative Extension Service joins Veronica White during Tuesday's noon newscast for more information.